BSP approves 125 new bank branches, offices

The Bangko Sentral ng Pilipinas (BSP) has approved the opening of 125 more bank branches as well as offices across the country.

Circular Letter No. CL-2015-077 issued last week showed that the BSP had approved the application of the following universal and commercial banks to open new regular branches as well as extension offices: BDO Unibank Inc. (nine regular branches); China Banking Corp. (one regular branch); Development Bank of the Philippines (one regular branch and 10 extension offices); Land Bank of the Philippines (one regular branch and eight extension offices); and Robinson Bank Corp. (five regular branches).

Also approved by the BSP were new branches and offices of rural and cooperative banks, as follows: East West Rural Bank Inc. (seven regular branches, 10 extension offices, and four regular other banking offices); New Rural Bank of San Leonardo (Nueva Ecija) Inc. (five regular branches); and Rural Bank of Medina (Misamis Oriental) Inc. (one regular other banking office).

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